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Bullish Pattern Could Send Gold Prices Much Higher

By Chris KimbleCommoditiesJun 03, 2022 02:09PM ET
www.investing.com/analysis/bullish-pattern-could-send-gold-prices-much-higher-200625298
Bullish Pattern Could Send Gold Prices Much Higher
By Chris Kimble   |  Jun 03, 2022 02:09PM ET
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Gold-U.S. Dollar Ratio Monthly Chart.
Gold-U.S. Dollar Ratio Monthly Chart.

Gold prices and precious metals bulls have been biding their time.

While gold has traded sideways-to-lower, bullish investors have simple sat tight, waiting for a bigger move.

I have shared today’s chart pattern several times (read this article from over a year ago), but it seems important to update once again as we ask the question, “Is a big move nearing?”

Above is a long-term monthly chart of the gold-U.S. dollar ratio.

After a sharp rise into 2011, this gold ratio declined sharply over several years before bottoming and rising sharply into 2020. This formed a bullish “cup” pattern. And it appears the past 18 months may have formed the “handle.”

A bullish reversal pattern could be in play as gold attempts to hold on to near-term support. Metals bulls sure would like to see a rally start right here! Stay tuned.

Bullish Pattern Could Send Gold Prices Much Higher
 

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Bullish Pattern Could Send Gold Prices Much Higher

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محمد بلالی ذاکر
محمد بلالی ذاکر Jun 03, 2022 2:19PM ET
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Hello . I have lost a lot in transactions, can you help me? Thank you for your help
Rajesh Upadhyay
Rajesh Upadhyay Jun 03, 2022 2:19PM ET
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ARE you from Pakistan??
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Tom Sc Jun 03, 2022 2:19PM ET
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Greg Ethan I'm a premium digital money worker.
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I can help you, i have 11 years of experience
 
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